IRAs

It's never too late to start saving for retirement. In uncertain times it is comforting to know that your financial institution has been around for over 100 years through all types of economic swings. In addition to providing quality products with competitive rates, your IRA investments at the Garrett State Bank are insured by the Federal Deposit Insurance Corporation. With us you'll find a wide array of IRA products and options to meet your needs.

 

Please contact Kathy Kelham, our IRA Administrator, with any questions regarding the accounts below at (260) 357-6680 or stop by our South Office to talk with her in person.

 

We encourage you to seek personalized advice from qualified tax professionals regarding all personal finance issues.

 

 

$uper $aver Retirement Account 

  • Initial Variable Rate - 1.50%  APY 1.51% with an Automatic Deposit from a GSB Checking Account
  • $25.00 Minimum to Open
  • GSB Checking Account Direct Deposit required
  • Additional Deposits (As little as $25.00 deposit can be made during the term of this account)
  • No principal fluctuations
  • May Open a SEP, Coverdell, Roth or Traditional IRA
  • Automatically renews at maturity for a like term
  • FDIC Insured
  • Accepting Deposits for 2013
  • Contact our IRA Representative for further details & disclosures


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Rollover $uper $aver Retirement Account

  • First 12 months of the 48 month term: Rate - 1.50%; APY - 1.51%
  • $1,000 minimum balance to rollover
  • GSB Checking Account required
  • GSB Checking Account Direct Deposit required
  • Free Checking, Safe Deposite Box and Loan Discounts for qualifying accounts.
  • No principal fluctuations
  • At the end of the first 12 month period, this rate may be different than the original rate, but will not be less than 1.00% (1.00% APY).
  • No hassle rollover.  We'll do the work for you.
  • FDIC Insured
  • Contact our IRA Representative for further details & disclosures

 

 

Coverdell Education Savings

  • Minimum opening deposit $10.00
  • Maximum annual contribution is $2,000
  • Tax free education savings
  • Account available up to 18 years of age
  • Funds can be used for education cost from kindergarten up through college
  • No annual fee
  • Contact our IRA Representative for furhter details


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Roth IRA

  • Minimum opening deposit $10.00
  • Non deductible contribution with tax free withdrawals
  • Maximum annual contributions of $5,000, if income guidelines are met
  • Make-up contribution of $1,000 if over 50 years old
  • No annual fee
  • Contact our IRA Representative for further details


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Regular IRA

  • Minimum opening deposit $10.00
  • Tax deductible if not in a qualified plan
  • Maximum annual contribution of $5,000 
  • Make-up contribution of $1,000 if over 50 years old 
  • No annual fee
  • Contact our IRA Representative for further details


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Rollover IRA

  • Funds may be rolled over from a qualified plan or another IRA
  • No annual fee
  • Contact our IRA Representative for further details


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Self-Directed IRAs

  • Minimum open deposit $10.00
  • Annual fee $75.00
  • You may elect alternative investment options for your Self-Directed IRA
  • Contact our IRA Representative for further details


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Financial Calculators

 


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